Roku (NASDAQ:ROKU) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Roku (NASDAQ:ROKU) in a report issued on Thursday morning. The brokerage issued a buy rating and a $100.00 price target on the stock.

Several other equities research analysts have also recently commented on ROKU. Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Roku in a report on Monday, February 10th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. UBS Group boosted their price objective on Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Finally, Benchmark upped their price target on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.55.

Roku Price Performance

Shares of ROKU stock opened at $72.49 on Thursday. The business has a 50 day simple moving average of $81.10 and a 200 day simple moving average of $77.67. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. Roku has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, equities analysts anticipate that Roku will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after buying an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after purchasing an additional 185,676 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after purchasing an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock valued at $168,734,000 after purchasing an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Roku by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after purchasing an additional 56,820 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.